For the week, the Dow fell 2.1 percent, the S&P 500 lost 1.7 and the Nasdaq dropped 1.9 percent. The U.S. Bureau of Economic Analysis reported real gross domestic product increased at downwardly revised an annual rate of 2.8 percent in the fourth quarter (down from the previous 3.3 percent increase).

Boeing (NYSE: BA) jumped 2.18 percent after the aerospace companywon a $35 billion tanker contract from the Air Force late yesterday.

Autodesk Nasdaq: ADSK) surged 5.74 percent after the company posted a 23 percent rise in earnings. Oil futures climbed more than 1 percent in New York to finish at $98.31 per barrel, but that is below the highs from earlier this week on fears of a disruption of Libyan oil.

Bonds edged up as the yield on the benchmark 10-year U.S. Treasury slipped to 3.43 percent.